If anything, Kobo may just help push the price down on rival e-readers. There's no way that Amazon is going to be able to charge $260 for the Kindle much longer if this thing is anything but a total bust.

As for features, it weighs less than 8 ounces, holds over 1,000 books, comes with 100 classic ebooks for free, and the battery lasts over two weeks. And it has a quilted back. But it doesn't seem to have an always-on 3G connection like the Kindle does, or a touchscreen.